Article by Freemen
It’s official. The property market is sizzling hot. Recent property launches on Penang Island saw Penangites queuing up in the wee hours of the morning hoping to secure a unit. Not surprisingly, all units are snatched up like hot cakes.
It amazes me that these properties are snatched up (sold out) regardless of the ridiculous pricing and the current property market. I admit I was once like that until I met a Property Coach who asked me these questions: “Have you ever asked yourself what you are investing into? Are you investing into fundamentals or are you one of the speculators that contributes to the escalating property prices?”
How true! This is a supply and demand market. When the “demand” (that’s us) accepts the asking price, the “supply” usually delivers it.
Now the next question, which properties to buy - primary or secondary market? Both markets seem to be very hot now, aren't they?
Properties from secondary market are viewed as ready to be occupied and based on “what you see is what you get”. In Malaysia, both primary and secondary property markets offer many choices in terms of property types and range of prices.
On the other hand, primary markets are project developments not yet build up but are already sold and marketed by property developers. If you look around, you will notice that developers are building up more and more new development in the market. Is it good to buy from primary market? Some may perceive it as higher risk compared to secondary market; i.e. risk of developer abandoning projects, fraud, and economy downturn that will affect the completion of the properties.
According to statistics published by National Property Information Centre (NAPIC), the total residential property transactions in 2010 was 181,024 units, with 151,862 units transacted in the secondary market, and 29,162 units from the primary market. Overall, 84% of the units transacted were completed properties from the secondary market.
Landed houses remain the preferred choice of residential accommodation for Penang. The overall existing supply of houses in Penang Island is approximately 35,600 units. Although most of the units are located within the North East District (56%), comparatively larger housing schemes have been launched and completed within South East District (82%).
The condominium market in Penang Island has been bullish. Prices continue to be on an uptrend with brisk sales for most of the newly launched projects. With rentals remaining stable, yields have decreased further amidst the increasing market prices. In the near future, market resilience will be tested as more units are expected to be completed in 2013.
With property prices on the rise and Bank Negara introducing measures to curb property speculation, I tell myself that I must learn how to buy properties. And that is when I meet my Property Coach at a Property Seminar. He taught me how to buy my first property from the Penang market for FREE, even though many said it cannot be done.
At the same, I make almost RM10,000 from this deal. The good news is - I’m not the only one who bought my properties for FREE and made money. My team mates too bought their properties for free AND make money. The recent batch of participants at the No Money Down seminar, has a success rate of 82% i.e. or every 10 people that attended the property seminar, 8 will buy a property for free. The 1st and 2nd batch participants are now working together to negotiate deals with developers and we are establishing a Real Estate Tycoon Club (RTC) in Penang.
My dear friend and Property Coach will be in Penang this coming Saturday, 3rd March to share with you about the current property market. To know more about the property sentiments as well as how we buy our properties for free, come on over to Vistana Hotel at 7pm.
Freemen is an organization which has been training investors since 2008 to benefit from any market. We’ve made 200 individuals more than RM3Million in profit, investing in over RM30Million worth of properties, ALL with no money down! Property Coach from FREEMEN will be in Penang on 3rd March in Vistana Hotel at 7pm onwards. Book early as we will be expecting a full house.
*SPECIAL OFFER: 1st 10 people to register in for this event will get a FREE book from Ho Chin Soon.
So hurry, learn from the guru and take action now to register here http://www.aboutpropertyinvestment.com as seats are limited